ERC20Connect claims to be the “world’s first AI-powered system for transparent cryptocurrency investing.” Find out what that means today in our review.
What is ERC20Connect ERX?
ERC20Connect ERX is a cryptocurrency scam that promises to pay users 50% returns per month. You pay the company $100 to $99,0000 today, and they’ll use their magical “AI Trading Bot” to produce enormous monthly returns. Users are told to expect returns as high as 90% per month with no risk whatsoever.
The company provides no proof of any of its earnings. There’s no team or location info listed online. And there’s no transparency regarding any aspect of the ERC20Connect business model.
Obviously, we’re wary of any company with a name that ends in “-connect”. The world’s most famous crypto Ponzi scheme, Bitconnect, was forced to cease operations in January 2018 after being widely accused of being a Ponzi scheme. ERC20Connect seems to be advertising an identical business model to Bitconnect – and they obviously share similar names.
How Does ERC20Connect Work?
Like many online scams, ERC20Connect is launching its token sale long before it has any platforms, products, services, or apps available online. The token sale is literally the first thing on the ERC20Connect roadmap. The company doesn’t plan to release any additional products till June 2018, which is when their “ERX Platform” will be released.
The main goal of ERC20Connect is to help users trade tokens. Specifically, the platform helps users trade 500+ different types of ERC20 tokens.
ERC20 tokens are cryptocurrencies built on the Ethereum blockchain. Anyone can launch their own ERC20 tokens. Today, there are hundreds of such tokens available from exchanges. ERC20Connect has collected multiple ERC20 tokens into a single spot for investors.
You can trade tokens on the platform by purchasing ERX tokens.
However, ERC20Connect doesn’t encourage users to manually trade tokens on the platform. Instead, the platform wants to funnel users towards their weird “AI Trading Bot” fund. With this fund, you give an AI trading system a bunch of money, then let it make trades on your behalf.
Of course, there are plenty of legitimate trading robots on the market today. ERC20Connect’s trading robot, however, makes ridiculous claims about its accuracy: the company claims investors can expect to earn returns of over 1% per day with the trading bot. The website mentions returns as high as 90% per month.
One of the unique things about ERC20Connect is that you can withdraw your money at any time. Unlike other Ponzi schemes, your money isn’t locked for a long period of time.
ERC20Connect ERX Investment Packages
ERC20Connect advertises three different investment packages, including all of the following:
- $100 to $999: 50% ROI per month
- $1000 to $9999: 55% ROI per month + 0.25% ROI per day
- $10,000 to $99,000: 60% ROI per month + 0.50% ROI per day
You can also earn money by participating in the ERC20Connect affiliate program. That program doesn’t function like an ordinary pyramid scheme. In fact, it’s only 1 level deep. However, you can earn commissions of 20% of all exchange fees paid by people you refer.
The ERC20Connect ERX ICO
There’s a total supply of 21 million ERX, with 20.5 million tokens sold during the token sale. The remaining 500,000 tokens are used for staking rewards for maintaining the platform.
The company claims their tokens will be worth $50 in the near future. Lucky for you, you can purchase the tokens for just 0.00002 ETH today during the ITO.
Who’s Behind ERC20Connect?
Like many other online scams, ERC20Connect refuses to disclose team information. We don’t know a single name involved with the project, nor do we know where the team is located.
Typically, when a lending scheme refuses to disclose any team information online, it means you’re dealing with a Ponzi scheme or another type of scam.
ERC20Connect ERX Conclusion
The creators of ERC20Connect desperately want you to believe they’re not a Ponzi scheme. However, the platform is very clearly a scam – or at least a bad investment. The company advertises ridiculous returns. They claim their tokens will be worth $50 “in just a short amount of time”, for example. They also claim investors can expect to earn returns of around 90% per month.
Legitimate companies don’t make any type of claims about expected investment returns – and they certainly don’t make claims as high as 1% per day.
ERC20Connect also has serious red flags like a complete lack of team information and transparency. We have no proof that the mysterious “AI Trading Robot” generates any profitable returns, for example. In fact, we have no evidence that it even exists whatsoever. All of these problems are associated with crypto scams.
For all of these reasons, ERC20Connect is yet another cryptocurrency scam you should absolutely avoid.